- Write by:
-
Wednesday, January 26, 2022 - 12:31:18
-
392 Visit
-
Print
Mining News Pro - The iron ore price jumped on Tuesday after Fortescue raised concerns over a labour shortage in Australia because of covid-19 curbs, which could hamper output and shipments.
BHP and Rio Tinto have also warned of disruptions from labour shortages as Australia faces a surge of Omicron coronavirus variant cases.
Sign Up for the Iron Ore Digest
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $138.39 a tonne during morning trading, up 3.7% compared to Monday’s closing.
Iron ore’s most-traded May contract on China’s Dalian Commodity Exchange ended daytime trading 1.4% higher at 766.50 yuan ($121.14) a tonne, rising for a fifth straight day after overnight gains erased Monday’s losses.
Mining stocks also slid, with Fortescue down more than 4% from the previous week, Rio Tinto Group down 0.6%, and BHP down 1.2%.
Fortescue, the world’s fourth-biggest iron ore miner, posted a 2% rise in second-quarter shipments, but flagged pressures from strong demand for labour and resources, as well as supply chain constraints due to the pandemic.
“The release of Fortescue’s production report should shed light on whether recent iron ore supply disruptions have been overcome,” ANZ commodity strategists said in a note.
Short Link:
https://www.miningnews.ir/En/News/619497
Brazil’s Corumba region could more than double iron ore shipments through neighboring Uruguay this year if there is ...
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the ...
Brazilian miner Vale SA sees no impact from BHP Group’s bid for Anglo American on the latter’s Minas-Rio project, its ...
Iron ore futures were poised for a third straight weekly rise as prices largely consolidated gains on Friday, with ...
China’s Tianqi Lithium said on Thursday it has formally requested that a proposed joint venture between lithium company ...
Zimbabwe’s President Emmerson Mnangagwa has re-appointed Winston Chitando as the southern African nation’s mines ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
A new report by IDTechEx states that investing in e-haul trucks could result in major savings for miners due to the ...
Mining company Vale expects to reach a final agreement with authorities for reparations for the collapse of the Samarco ...
No comments have been posted yet ...